Core Insights - The China Securities Regulatory Commission (CSRC) has disclosed the progress report of Haitong Securities on the initial public offering (IPO) guidance for Shiya Technology Co., Ltd. [1] - Shiya Technology's main product, silicon-based OLED display screens, is a core hardware component for next-generation smart terminals in the AI era, with significant growth expected in the XR device market by early 2025 [1] Group 1 - Haitong Securities noted that the guided company has insufficient understanding of capital market laws and regulations, prompting the guidance team to encourage self-learning and organize offline Q&A sessions for better comprehension of responsibilities and obligations [1] - By the first quarter of 2025, minority shareholders of Shiya Technology may transfer their shares due to fund expiration or personal financial needs, necessitating a thorough eligibility check for new shareholders [1] - Major tech companies, including Meta, Baidu, and Huawei, are actively launching their own "AI+AR" glasses products, indicating a competitive landscape in the XR device market [1] Group 2 - The company governance and internal control systems of the guided entity are fundamentally sound, with ongoing improvements in the coordination between business and financial management [2] - The guidance team will collaborate with lawyers and accountants to further enhance the financial management system and ensure strict adherence to governance and internal control protocols [2]